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Tech Mahindra surges on acquiring Hutchison Global for $87.1 million

04 Sep 2012 Evaluate

Tech Mahindra is currently trading at Rs. 819.95, up by 9.45 points or 1.17% from its previous closing of Rs. 810.50 on the BSE.

The scrip opened at Rs. 818.00 and has touched a high and low of Rs. 829.40 and Rs. 812.80 respectively. So far 151969 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 887.70 on 27-Aug-2012 and a 52 week low of Rs. 524.20 on 30-Sep-2011.

Last one week high and low of the scrip stood at Rs. 883.00 and Rs. 775.00 respectively. The current market cap of the company is Rs. 10525.04 crore.

The promoters holding in the company stood at 70.78% while Institutions and Non-Institutions held 20.68% and 8.54% respectively. 

Tech Mahindra, a leading provider of solutions and services to the telecommunications industry, has acquired 100% stake in Hutchison Global Services for $87.1 million, payable upfront.

This acquisition builds on the significant relationship between Tech Mahindra and the Hutchison group across multiple countries. The acquisition will provide significant enhancement of Tech Mahindra’s expertise in the customer management space and will thus be a key component of its strategic plans going forward. In addition, the acquisition will enable Tech Mahindra to leverage the acquired capabilities and scale for expanding the scope of their existing services to other parts of the Hutchison group, and also to other customers and verticals.

As part of the deal, the clients of Hutchison Global Services have committed to procure services worth $845 million over a 5 year period, and have agreed to Hutchison Global Services being their exclusive provider of certain agreed services in India.

Hutchison Global Services (HGS) provides customer lifecycle operations to clients in UK, Ireland and Australia and has an associate base of over 11,500 employees. HGS operates out of Mumbai and Pune and is among the largest captives in the Telecom Domain.

Tech Mahindra Share Price

1511.85 20.95 (1.41%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
TCS 2581.65
Infosys 1318.60
HCL Tech. 1442.50
Wipro 204.35
Tech Mahindra 1511.85
View more..

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